twice connect
careers

Staples Reports Higher Sales, Net In Fiscal Q1

5/22/2007 10:37:00 AM Eastern

Framingham, Mass. — Staples reported higher sales and net income for its first fiscal quarter, ended May 5, with laptop PC sales leading the way in North America.

Total company sales increased 8 percent to $4.6 billion vs. the first quarter of last year while net income rose 12 percent year-over-year to $209 million.

North America retail comp sales increased 1 percent during the quarter vs. last year due to laptop PCs, peripherals and business software coupled with continued growth in copy and print services, the retailer reported. Total North American sales were up 3 percent to $2.36 billion while income for this business unit was up in the first quarter 8.02 percent to $189.5 million vs. the same time last year.

“North American retail gained market share in many categories and delivered solid operating margins despite softer than expected sales growth,” said Ron Sargent, Staples’ chairman/CEO.

Staples opened 24 new stores in the United States during the first quarter and now operates 1,927 stores worldwide.